There is no longer a limit on the amount of text that can exist in your ad image. The text overlay tool is no longer available. They still recommend keeping text short, clear and concise in order to get your message across.
Although studies have found that images with less than 20% text perform better, Facebook is taking away their text rule, which is a welcome change for businesses and marketers.
Now is a great time to test this for yourself! Create a few variations for a product or service. See if more text on the image does equal lower results.
Here are some tips from Facebook on how to avoid too much text in your ad images:
And remember if you hawk your products and services too often on Facebook it's likely that users will hide your posts, which will reduce the likelihood that Facebook will ever show them any of your content again in the future. So don't do it!!
Source: Facebook Business: Guide For Using Text in Ad Images
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